Tesla broke a record, and so did a business magazine luck Figured out. Never before has a large company lost the same amount of market value in such a short time that Tesla has lost in the past five weeks. On Friday afternoon, the US electric vehicle manufacturer was valued at $ 305 billion (256 billion euros) below its January peak.
At the close of the trading day, Tesla’s stock approached $ 600, giving the company a market capitalization of around $ 573 billion. At its peak, it was $ 883 billion.
Fortune notes that the amount by which Tesla’s stock market value has decreased is still higher than the stock market value of nearly any other company on the S&P 500 stock index, the stock index of the largest companies in the United States and an important index of the US stock market.
According to Fortune, Tesla’s erratic price trend illustrates the uncertainty about how the company that offered half a million cars in 2020 evaluates compared to the competition. Toyota, the world’s largest automaker, is estimated to be worth $ 210 billion.
Tesla has high expectations for 2021. Not only will the updated versions of the Model S and X go on the market this year, but the Model Y will also be available in Europe. In addition, new production centers must be completed in Germany and Texas, USA. Finally, Tesla relies this year on the arrival of its long-awaited semi-truck, an all-electric truck.
PetroChina, the nation’s largest oil and gas producer, maintains a record of the loss in value. This company lost nearly $ 800 billion in value between 2007 and 2017.